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Encyclopedia > Tax reform

Tax reform is the process of changing the way taxes are collected or managed by the government.-1...


Tax reformers have different goals. Some seek to reduce the level of taxation of all people by the government. Some seek to make the tax system more/less progressive in its effect. Some may be trying to make the tax system more understandable, or more accountable. Many organizations have been setup to reform tax systems worldwide, often with the intent to reform Income taxes or Value Added Taxes into something considered more economically liberal. Other propose tax systems that attempt to deal with externalities. A progressive tax is a tax imposed so that the tax rate increases as the amount to which the rate is applied increases. ... Income tax is a direct tax which is levied on the income of private individuals. ... Tax rates around the world Tax revenue as % of GDP Economic policy Monetary policy Central bank   Money supply Fiscal policy Spending   Deficit   Debt Trade policy Tariff   Trade agreement Finance Financial market Financial market participants Corporate   Personal Public   Banking   Regulation        Value added tax (VAT), or goods and services tax (GST), is... The liberal theory of economics is the theory of economics begun in the Englightenment, and believed to be first fully forumulated by Adam Smith. ... In economics, an externality is a cost or benefit resulting from an economic transaction that is borne or received by parties not directly involved in the transaction. ...


United States

"'Revenue Reform' Train Stopped by 'Vested Interests,' 'Local Issues,' 'Trusts,' and other poles" — Political cartoon from 1880–1900 commenting on tax reform.
"'Revenue Reform' Train Stopped by 'Vested Interests,' 'Local Issues,' 'Trusts,' and other poles" — Political cartoon from 18801900 commenting on tax reform.

There have been many movements in the United States to reform the collection and management of taxes. Image File history File links No higher resolution available. ... Image File history File links No higher resolution available. ... This early political cartoon by Ben Franklin was originally written for the French and Indian War, but was later recycled during the Revolutionary War An editorial cartoon, also known as a political cartoon, is an illustration or comic strip containing a political or social message. ... Year 1880 (MDCCCLXXX) was a leap year starting on Thursday (link will display the full calendar) of the Gregorian calendar (or a leap year starting on Tuesday of the 12-day slower Julian calendar). ... Äž: For the film, see: 1900 (film). ...


As the United States was still being formed, the Whiskey Rebellion of 1794 may be considered to be the first effort for tax reform in the United States. President George Washington led 12,950 troops to western Pennsylvania to put down the rebellion. The Whiskey Rebellion, less occasionally known as the Whiskey Insurrection, was a popular uprising that had its beginnings in 1791 and culminated in an insurrection in 1794 in the locality of Washington, Pennsylvania, in the Monongahela Valley. ... 1794 was a common year starting on Wednesday (see link for calendar). ... For other uses, see President of the United States (disambiguation). ... George Washington (February 22, 1732 – December 14, 1799)[1] led Americas Continental Army to victory over Britain in the American Revolutionary War (1775–1783), and in 1789 was elected the first President of the United States of America. ... Capital Harrisburg Largest city Philadelphia Area  Ranked 33rd  - Total 46,055 sq mi (119,283 km²)  - Width 280 miles (455 km)  - Length 160 miles (255 km)  - % water 2. ...


The President's Advisory Panel for Federal Tax Reform's major push was for the removal of the Alternative Minimum Tax. Several organizations are working for tax reform in the United States including Americans for Tax Reform and Americans For Fair Taxation. Various proposals have been put forth for tax simplification in the United States including the FairTax and various Flat tax plans. On January 7, 2005, President George W. Bush announced the establishment of the Presidents Advisory Panel for Tax Reform, a bipartisan panel to advise on options to reform the United States income tax code to make it simpler, fairer, and more pro-growth to benefit all Americans. ...        Alternative Minimum Tax (AMT) is a tax system that is part of the federal income tax system in the United States. ... Americans for Tax Reform is an interest group seeking to reduce the overall level of taxation in the United States, at the federal, state and local level. ... Americans For Fair Taxation (AFFT) is the nations largest, single-issue grassroots organization dedicated to fundamental tax code replacement. ... Throughout this article, the unqualified term dollar and the $ symbol refer to the United States dollar. ... A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion on income), as opposed to a graduated, or progressive, scheme. ...


See also

Americans For Fair Taxation (AFFT) is the nations largest, single-issue grassroots organization dedicated to fundamental tax code replacement. ... Americans for Tax Reform is an interest group seeking to reduce the overall level of taxation in the United States, at the federal, state and local level. ... Throughout this article, the unqualified term dollar and the $ symbol refer to the United States dollar. ... A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion on income), as opposed to a graduated, or progressive, scheme. ...

External links


  Results from FactBites:
 
Ohio Tax Reform | Ohio Department of Development (734 words)
The main feature of the tax reform plan is a 21 percent reduction in the Ohio income tax rate schedule.
In addition, the tax reform plan calls for the re-establishment of an accumulated trust income tax, the development of a new higher education grant program and the implementation of a new low-income tax exemption program.
The Ohio tax reform plan calls for the implementation of a replacement business tax to help replace forgone state and local revenue resulting from the elimination of the tangible personal property tax on general businesses.
Independent Sector | Public Policy -- Estate Tax (1372 words)
A measure (H.R.) that would have amounted to a near-repeal of the estate tax was defeated in the Senate on August 3, 2006 after proponents failed to gain the 60 votes needed to end debate on the bill.
Independent Sector supports reform of the estate tax, but is opposed to repeal of this tax that provides strong incentives to leave a legacy to charity.
A suitably modified estate tax is also good for society, insofar as it serves to check the accumulation of vast sums of inherited wealth in the hands of a very few.
  More results at FactBites »

 
 

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